Interest rates during a recession
in Mortgages & endowments
4 replies 571 views
My wife and I will need an Equity Release Mortgage in about
2 to 3 years time – when our savings are depleted. (About £100K against current
property value of £800K)
Interest rates have shot up in recent times. I’m convinced we’re in or heading for a deep recession when from my past experience interest rates tumble. Would I be right in postponing an ERM until rates are lower? Thoughts?
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On the topic of ERMs I would have thought it far more sensible to just downsize to release equity…